The 23rd edition of WASME Excellence Awards aims to enable SMEs to be more competitive, environment friendly, socially responsive, culturally sensitive and ethical in their business practices by integrating SME development agendas with the Sustainable Development Agenda propounded by the United Nations, added WASME.
Over the next five years, MSMEs will receive in-person training, a feature unique to this program, as well as expert advice, access to Walmart's deep global experience and a network of peers and mentors in their local communities.
On the B2B side, the proposed platform will also provide funds and have access to cash flows, helping buffer businesses against shocks. Funding and payments have been a major area of concern for MSMEs and the government is looking at models that can help MSMEs.
Dr Guruprasad Mohapatra, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said that MSME sector is the backbone of the Punjab industry and accounts for nearly 60% of the total output.
Punjab is home to over 1.6 lakh MSMEs, which are crucial drivers of job creation and economic growth, and reflects the enterprising spirit of the state.
Industry insiders said these were precursors to Thursday's move. “We requested for a limit of ₹1 crore for investment but… at least RBI considered for an elevation to ₹50 lakh,” Ranjan told ET after the announcement.
“It would be practically difficult for small establishments to get registered and comply with the code engaging additional administrative and other personnel to monitor the health and safety parameters as envisaged in the code,” said Indian Staffing Federation president Rituparna Chakraborty.
The target is also increase the share of MSMEs in the country's export and growth to 50 per cent, Nitin Gadkari said.
Shopkeepers are mobilising against the e-comm giants, alleging they are engaged in predatory pricing.
MSME Minister Nitin Gadkari on Thursday said that he is to meet SBI Chairman next month to discuss whether the bank can jointly run an e-commerce portal called Bharat Craft, meant for taking Indian MSMEs to the global platform. “For the first time, after our govt came to power, we are readying a portal called Bharat Craft,” Gadkari said
Archana Vohra, director of small and medium businesses at Facebook India said that the company has done a lot of work this year to facilitate the growth of the segment, including the launch of its VC Brand Incubator programme.
Compostable, eco-friendly bagasse is great for replacing plastic when you need disposable plates, cups or takeout boxes. Bagasse is made from the pulp that is leftover when the juice is extracted from sugarcane or beets. It can be used for other purposes, such as a biofuel.
A digital wave and formalisation are ending old practices, helping sturdier and stronger companies emerge.
Acknowledging the need to cut down on water requirements and increase productivity, DCM Shriram conceptualised a multi-stakeholder programme for sustainable sugarcane production called ‘Meetha Sona’. The results have been positive.
Sugar, which is one of the most water intensive crops, is dependent on the scarce resource for cultivation. Simple innovations in the sugarcane fields of Uttar Pradesh have produced staggering results in water conservation and also upped productivity.
The Palo Alto, California-headquartered company last year announced $2 billion investment in India over the next five years towards expanding its facilities, increase headcount and ramp up research and development activities.